SoftBank Reports Record $23.4 Billion Loss as Holdings Fall (2)

SoftBank Group Corp. reported a record 3.16 trillion yen ($23.4 billion) net loss as a selloff in global tech stocks continued to hammer its Vision Fund’s portfolio of investments.

The Vision Fund segment posted a loss of 2.33 trillion yen in the three months ended June 3O, following a then-record 2.2 trillion yen loss in the previous quarter. SoftBank also reported a 820 billion yen foreign exchange loss because of the weaker yen.

Global stock prices continued their slide during the June quarter, hurting valuations of SoftBank’s key public holdings like Uber Technologies Inc. and Coupang Inc. The Nasdaq 100, ...